Aldermore has increased the rate of its fixed rate bonds by up to 0.15%, enabling its one-year deal to maintain its position in the Moneyfacts charts.
1 Year Fixed Rate Account now pays 1.90% on maturity (1.88% monthly), which is just below the market-leading rate for its term.
This account can be opened and operated by post, by phone and online with a minimum investment of £1,000.
Like many fixed rate deals, it does not allow further additions or early access to funds. Savers must therefore be comfortable with the amount they invest and the length of the term from the beginning.
The rate boost to this account has reaffirmed its place in the Moneyfacts charts while the choice of monthly interest adds some welcome flexibility. However, the lack of early access means that savers must think carefully about how much they are willing to lock away for the full one-year term.
Moneyfacts rating: Excellent
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